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Dec 14, 2013
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>> the volcker rule in a sense is banks are not allowed to gamble with your paycheck. we don't need the volcker rule with 900 pages if we go back to glass/steagall which says if you want to be in the business of underwriting stocks and proprietary trading, make all the money you can but you're not in the bank business. >> bipartisanship instead of the dismantling of glass/steagall. larry summers, the clinton administration, republicans, hard to reassemble that. >> this gets to the heart of it, too, because the volcker rule was put in to dodd/frank and then it took three years of unbelievable negotiation, hundreds of meet, the lobbyists flooded clip. the fact of the matter is when you analyze is volcker rule as it's written in this big package, it's pretty good, but there are loopholes, areas that are weak, and the fact is we're not done and the dangerous thing in enacting a volcker rule is [ inaudible ]. the reality is we haven't restored glass/steagall so that firm line is not there. also the fact is sharon brown, senator from ohio, and david vitter, senator from loui
>> the volcker rule in a sense is banks are not allowed to gamble with your paycheck. we don't need the volcker rule with 900 pages if we go back to glass/steagall which says if you want to be in the business of underwriting stocks and proprietary trading, make all the money you can but you're not in the bank business. >> bipartisanship instead of the dismantling of glass/steagall. larry summers, the clinton administration, republicans, hard to reassemble that. >> this gets to...
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Dec 10, 2013
12/13
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the volcker rule is pretty good. i mean -- >> let me ask you -- >> we'll know more. >> but if you're sitting at home, and you don't do a lot with stocks or bonds, maybe you have a mixed fund in retirement. maybe you don't own anything in the markets. why should you care about this progress from the administration today? >> well, you care a lot, because if this doesn't work, we could have another meltdown. we could have another too big to fail. we could have another bailout of wall street. another cataclysm or near cataclysm that affects everybody. >> and jared, let me put up one thing from something you were working on, looking at basically this growth in the stock market and how it's totally outpacing regular gdp. 70% up in the stock market at s&p 500. a lot bigger than other indicators that affect main street. why are you concerned about that? >> it gets to what secretary risch was just talking about. if we have another financial bubble, and, by the way, it is precisely that that's brought down the last two busines
the volcker rule is pretty good. i mean -- >> let me ask you -- >> we'll know more. >> but if you're sitting at home, and you don't do a lot with stocks or bonds, maybe you have a mixed fund in retirement. maybe you don't own anything in the markets. why should you care about this progress from the administration today? >> well, you care a lot, because if this doesn't work, we could have another meltdown. we could have another too big to fail. we could have another...
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Dec 12, 2013
12/13
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the volcker rule is something the banks have spent two years and millions lobbying against, but they lost the fight. that was yesterday. now today, the single most interesting ongoing fight within the democratic party also landed with a thud on wall street, "the wall street journal" reported on democratic senator elizabeth warren, saying any democrat who wants to expand social security or not cut medicare, like elizabeth warren, is a laughing stock and should never be taken seriously. the group that wrote that op-ed is called "third way," and calls themselves a liberal group. but liberal democrats are mad that third way could have any effect at all in politics, there was pushback regarding elizabeth warren herself, but today, the committee delivered to the third ways doorstep in washington, d.c. the pccc are demanding the anti-liberal forces in the democratic party show themselves. they're demanding that third way explain where they get their money from and who they are. there has been a fascinate thing to watch unfold on the left over the last few days. including the website, daily
the volcker rule is something the banks have spent two years and millions lobbying against, but they lost the fight. that was yesterday. now today, the single most interesting ongoing fight within the democratic party also landed with a thud on wall street, "the wall street journal" reported on democratic senator elizabeth warren, saying any democrat who wants to expand social security or not cut medicare, like elizabeth warren, is a laughing stock and should never be taken seriously....
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Dec 5, 2013
12/13
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. >> next week regulators are expected to approve a tougher than expected version of the so-called volcker rule which would impose tighter restrictions. the goal is to reduce the chances of mega losses like jpmorgan's $6.2 billion london fiasco. the question is after years of complaints banks spared for their prosecution in the role of the financial crisis, have we turned a corner? joining us now new york attorney general eric schneiderman. mr. attorney general, always an honor to have you on the show. congratulations on the work thus far. >> thank you. good to be here. >> a big, big deal. i wanted to ask that question. have we turned the corner? from your experience, do you sense a change between the dynamic between the banks and financial services industry and regulators? >> i think it does reflect a change. we're coming up in january on the second anniversary of president obama's state of the union address when he announced the creation of the working group which i co-chair along with my colleagues in the justice department. this is less than two years old. we've been pooling our resour
. >> next week regulators are expected to approve a tougher than expected version of the so-called volcker rule which would impose tighter restrictions. the goal is to reduce the chances of mega losses like jpmorgan's $6.2 billion london fiasco. the question is after years of complaints banks spared for their prosecution in the role of the financial crisis, have we turned a corner? joining us now new york attorney general eric schneiderman. mr. attorney general, always an honor to have...
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Dec 10, 2013
12/13
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big fed meeting on how the volcker rule is going to work. hi honey, did you get the toaster cozy? yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to. is that nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include
big fed meeting on how the volcker rule is going to work. hi honey, did you get the toaster cozy? yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to. is that nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be...
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Dec 27, 2013
12/13
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you're not going paul volcker in 2006, 2007, 2008. it seemed the whole system was rigged at the time to encourage this speculative behavior because it was good for politicians on both sides. >> when you're at the tail end of the bubble it's inconceivable to say something against it. i'm on record -- i will tell you in transcripts, public remarks, making cautious statements they are completely eliminated from the text. you don't see it any more. >> can i really quickly, brian, instead of directing this to the chairman i'll direct it to you. it sounds self-serving. i've been saying this for five years. it blows me away alan greenspan was attacked after barney frank and george w. bush got what they wanted and it was his mistake to keep interest rates artificially low. since alan greenspan has retired our monetary policy has become even more aggressive. >> right. >> first of all they condemn what we did over 15, 20 years of extraordinary economic growth and then they double down on that same behavior. >> are there lawmakers in washington,
you're not going paul volcker in 2006, 2007, 2008. it seemed the whole system was rigged at the time to encourage this speculative behavior because it was good for politicians on both sides. >> when you're at the tail end of the bubble it's inconceivable to say something against it. i'm on record -- i will tell you in transcripts, public remarks, making cautious statements they are completely eliminated from the text. you don't see it any more. >> can i really quickly, brian,...
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Dec 10, 2013
12/13
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the volcker rule expected to be adopted today. will restrict banks' ability to use their own money to some say make bet, some say invest. that will be severely limited. expect it to be a little more thorough and intense than previously thought. this one i wanted to point out, let's go to the market, one of the high-flying stock, you would know this, harold, lululemon. >> is that the company where the guy said we don't make pants for women with wide thighs? >> yeah. that's right. >> is that that guy? >> that's him, the chairman. he's going the give up his role as chairman. they re-called the pants back in march. you're right. chip wilson forced to apologize when he explained, as mika pointed out, why the pants were too sheer, because, quite frankly, some women's bodies just actually don't work with the pants. >> i'm sad, i'm really sad. i'm sad for the repercussions of my actions. i'm sad for the people of lululemon who i care so much about that have really had to face the brunt of my actions. i take responsibility for all that has
the volcker rule expected to be adopted today. will restrict banks' ability to use their own money to some say make bet, some say invest. that will be severely limited. expect it to be a little more thorough and intense than previously thought. this one i wanted to point out, let's go to the market, one of the high-flying stock, you would know this, harold, lululemon. >> is that the company where the guy said we don't make pants for women with wide thighs? >> yeah. that's right....